BAUDETTE, Minn. (AP) — BAUDETTE, Minn. (AP) — ANI Pharmaceuticals Inc. (ANIP) on Thursday reported fourth-quarter net income of $1.2 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Baudette, Minnesota-based company said it had net income of 4 cents. Earnings, adjusted for one-time gains and costs, were $1 per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.

The drugmaker posted revenue of $131.7 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $123 million.

For the year, the company reported net income of $18.8 million, or 85 cents per share, swinging to a profit in the period. Revenue was reported as $486.8 million.

ANI expects full-year earnings in the range of $4.26 to $4.67 per share, with revenue in the range of $520 million to $542 million.

ANI shares have climbed slightly more than 9% since the beginning of the year. The stock has climbed 44% in the last 12 months.

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